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Does a disregarded entity need to file an extension?

Single-member LLCs are initially classified as a disregarded entity by the IRS, and for federal tax purposes, they are taxed as a sole proprietorship.

A disregarded entity needs to file Form 4868 (Personal tax extension) to extend the filing deadline of tax Form 1040 by 6 months.

Single-member LLCs can elect to be taxed as,

• C Corporation by filing Form 8832 with the IRS. To extend the tax Form 1120, use the extension Form 7004
• S Corporation by filing Form 2553 with the IRS. To extend the tax Form 1120-S, use the extension Form 7004

If you're a foreign-owned U.S. Disregarded Entity, click here to learn more information about your filing requirements.